YIT ACQUIRES PROPERTY MAINTENANCE COMPANY IN YEKATERINBURG, RUSSIA

YIT ACQUIRES PROPERTY MAINTENANCE COMPANY IN YEKATERINBURG, RUSSIA

The Yekaterinburg-based residential construction company YIT Uralstroi, part of YIT Group, has acquired a 100% ownership of the building management and property maintenance company called OOO Upravljajushjaja Kompanija Olimp. In addition, in St Petersburg and the Moscow region, YIT has separate companies that take care of the building management and maintenance of property built by YIT.

At the moment, Upravljajushjaja Kompanija Olimp is responsible for maintaining approximately 100,000 square metres of property. The goal is to increase this by more than 110,000 square metres of residential locations built by YIT Uralstroi in the next four years. YIT Uralstroi currently has more than 1,000 apartments under construction in three locations.

For YIT Uralstroi, the acquisition of Olimp is an opportunity to provide premium services related to the use of technical networks, the maintenance and renovation of property locations, as well as fire safety. The services cover apartments and shared facilities, such as parking spaces and playgrounds. The uninterrupted operation of lifts and networks, as well as effective parking, security and access control can already be ensured when moving.

"For a developer-contractor whose aim it is to foster their reputation, residential sales is only half of the service process. It is equally important to ensure good after-sales service to the customer," says Fjodor Voropajev, General Director of YIT Uralstroi.

"Building management companies are required to have more and more awareness and competence related to using new technology. Our group is a leader in the use of energy efficient solutions in Europe, and as the energy efficiency requirements in Russia will become stricter in the next few years, we want to rest assured that we are capable of ensuring that our locations meet the required level of energy efficiency. A maintenance company of our own will give a good foundation to that end,” Voropajev continues.

Yekaterinburg, the fourth largest city in Russia, is located in the Central Ural region. It is one of the host cities of the 2018 FIFA World Cup and a powerful candidate to host the World Expo 2020.

For further information, please contact:
Teemu Helppolainen, Senior Vice President, Head of Division Moscow and Russian Regions, teemu.helppolainen@yit.ru, +7 915 316 8216

YIT CORPORATION

Virva Salmivaara
Senior Vice President, Communications

YIT is a leading European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in the Nordic countries, Central Europe, Russia and the Baltic countries. In 2010, YIT's revenue was approximately EUR 3.8 billion. The Group has about 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com

YIT Uralstroi is a subsidiary of YIT Group in Yekaterinburg, Russia. YIT has operated in the region since 2006. YIT Uralstroi builds homes in compliance with the international YIT Home concept in Yekaterinburg and the Sverdlov region. YIT Uralstroi has built the Justas residential building in Verhnaja Pyshma and the Velikolepnaja vosmjorka residential building and its car park in Yekaterinburg. YIT Uralstroi is currently building three groups of residential buildings. www.yitural.ru